Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Floor & Decor Holdings, Inc. Investors
LOS ANGELES--(BUSINESS WIRE)--May 28, 2019--
Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired Floor & Decor Holdings, Inc. (“Floor & Decor” or the “Company”) (NYSE: FND ) securities between May 23, 2018 and August 1, 2018, inclusive (the “Class Period”). Floor & Decor investors have until July 19, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com.
On August 2, 2018, the Company reported lower-than-expected revenue for second quarter 2018 and reduced its sales and earnings per share guidance for fiscal year 2018, citing sales shift to lower margin products such as laminate flooring.
On this news, the Company’s share price fell $8.18, nearly 17%, to close at $39.53 per share on August 2, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that, prior to the May 24, 2018 Secondary Offering, the Company had begun to experience declining sales trends; (2) that, as a result, the Company was likely to reduce its fiscal 2018 sales and adjusted EPS guidance, which had been increased as recently as May 2018; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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If you purchased shares of Floor & Décor during the Class Period you may move the Court no later than July 19, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20190528005811/en/
CONTACT: Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Glancy Prongay & Murray LLP
Copyright Business Wire 2019.
PUB: 05/28/2019 08:00 PM/DISC: 05/28/2019 08:00 PM